The OneAscent Small Cap Core ETF (NYSEARCA:OASC) experienced a dramatic reduction in short interest, according to recent data. As of December 15, 2023, the short interest dropped to just 569 shares, marking a significant 97.1% decrease from the previous total of 19,596 shares recorded on November 30, 2023. This reduction indicates that approximately 0.1% of the company’s stock is currently short sold.
The days-to-cover ratio, which measures how long it would take to cover short positions based on average trading volume, stands at 0.0 days. This figure is calculated based on an average daily volume of 13,194 shares, reflecting a substantial shift in trading dynamics for the ETF.
Institutional Investors Adjust Their Positions
Several institutional investors have recently modified their holdings in the OneAscent Small Cap Core ETF. Strategic Blueprint LLC increased its stake by 18.1% during the third quarter, acquiring an additional 1,835 shares to hold a total of 11,983 shares, valued at approximately $342,000. Similarly, OneAscent Investment Solutions LLC boosted its position by 41.0%, bringing its total to 14,167 shares, worth around $404,000 after purchasing an additional 4,122 shares.
Moreover, OneAscent Family Office LLC increased its stake by 27.5% in the second quarter, resulting in ownership of 22,494 shares valued at $585,000. Meanwhile, IFP Advisors Inc raised its investment by an impressive 655.4%, acquiring 6,308 shares worth approximately $164,000. Lastly, Plan A Wealth LLC entered the fray by purchasing a new stake valued at around $209,000 in the third quarter.
Current Stock Performance
In midday trading on Thursday, OASC shares saw a minor increase of 0.2%, rising by $0.06 to reach $30.22. The trading volume for the day was 6,026 shares, slightly below the average volume of 12,165 shares. Over the past year, the ETF has fluctuated between a low of $21.44 and a high of $30.47.
The fund currently holds a market capitalization of $28.10 million, with a price-to-earnings ratio of 17.24 and a beta of 1.31. Its fifty-day moving average stands at $28.97, while the 200-day moving average is at $27.82.
The OneAscent Small Cap Core ETF, launched on June 13, 2024, is designed to track the S&P Small Cap 600 index. It strategically invests in 200 small-cap companies across the United States, applying a proprietary, value-based screening process to identify potential investments.
This substantial decline in short interest reflects a broader shift in investor sentiment and market dynamics surrounding the OneAscent Small Cap Core ETF. As institutional investors adjust their stakes, the ETF may see further developments in its market performance in the coming months.
